MOHAN INDIA PVT. LTD

AGENDA

NSEL Defaulter Diversion of Funds Aberration of Funds Defaulters Luxurious Lifestyle Mohan India’s Properties BOMBAY HC Orders Conclusion

NSEL DEFAULTER Mohan India Pvt. Ltd is one of the

largest defaulters of the NSEL crisis.

Delhi based Mohan India and its sister concern Tavishi Enterprises is led by Jagmohan Garg & J.S Srivastava as company’s director’s.

The group companies are promoted by this influential business family from north-west Delhi.

J.S Srivastatva

Jagmohan Garg

DIVERSION OF FUNDS

As buyer of 216,324 tonnes of sugar – Mohan India group was one of the major Defaulters of NSEL.

Close to Rs. 600 crore, out of the Rs. 852 crore that they got, were paid to several unrelated firms and close Rs. 200 crore to related entities.

ABERRATION OF FUNDS

Jagmohan Garg, it is said, had diverted NSEL funds to several ventures such as the five star hotel – Radisson, real estate properties viz.

Mera Baba Reality projects in Pitampura and Rohini and a lot more, and all of those were turned away into these ventures from the money that returned from the related entities to unrelated entities.

DEFAULTERS LUXURIOUS LIFESTYLE

Jagmohan Garg’s associate, J.S Srivastava owned luxury cars like Audi 7, Mercedes SUV, Bentley and Fortuner.

MOHAN INDIA’S PROPERTIES

Jagmohan Garg’s ‘Mera Baba Reality’ has numerous projects in its realm viz. D-Mall in Pitampura and Rohini in New Delhi.

He owns several other properties which include Radisson Hotel – a five star grade and S P Goenka School in Delhi.

Around 500 acres of land in Bikaner belonging to Mohan India along with a bungalow plot admeasuring 14,000 Sq. yard in New Delhi.

BOMBAY HC ORDERS

Mohan India group has been instructed to disclose their properties by Bombay HC while hearing NSEL’s suit against Mohan India Group.

The group has been directed to divulge all their asset details within 4 weeks.

If Mohan India wishes to deal with seized assets, Bombay HC has ordered for bank guarantees of the same.

Mohan India will have to furnish a bank guarantee worth Rs 690.82 Crore valid for five years and Tavishi for Rs 347.02 Crore in favour of the HC.

They will also have to pay interest at 18% from the date of filing of the suit till the bank guarantee is furnished.

BOMBAY HC ORDERS

CONCLUSION

Mohan India, the largest defaulter of NSEL, has invested the money illegitimately earned by dwindling NSEL’s trading clients and NSEL itself.

Mohan India Group has looked for all stealth recourses to evade pay-outs, illegitimately earned by dwindling NSEL’s trading clients and NSEL itself

All of his properties were attached by the EOW of Mumbai Police

THANK YOU

Source: Media Reports &

Images for representation purpose only